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Will 2016 Be the Year of FinTech in India?

Has Financial Technology or FinTech finally come of age in India? While, FinTech accounted only for 13.3% of the total funding raised by Indian startups in 2015, the gross investment into it was up 8 times over the equivalent 2014 number of $145.1 million. While that looks amazing at first glance, it has to be noted that m-commerce platform One97 (Paytm) accounted for about 74% of the money raised by FinTech companies this year. Nonetheless, even if one were to exclude this number, Indian FinTech investment has doubled over the 2014 number. India’s FinTech sector has been a far cry from its global peers, accounting only for 6% of the total global FinTech space (by funding), but clearly as the numbers above show, that is changing fairly rapidly.

Source

iamwire (link opens in a new window)

Categories

Technology

Region

South Asia

Tags

digital payments, fintech